The bear cycle is dragging altcoins down harder than usual right now 🖤 with bitcoin stuck under $60,000 pressure keeps building fast on everything else.

Altcoins Hitting Extreme Lows 🌑

A fresh report from CryptoQuant highlighted that around 40% of altcoins sit near their all time lows which shows just how rough things got for most projects. Analyst Darkfost built a chart tracking those trading below 25% of their peaks yet ended up spotting at least 40% hugging their bottoms anyway.
As bitcoin slips further below that $60,000 line the share of altcoins near all time lows actually spiked to 45% last month. Low liquidity plays the biggest role here even though thousands of tokens launch daily CoinMarketCap lists 53.5 million cryptocurrencies total with about 60,000 new ones appearing every single day. Most of these are set to fail fast because fresh money just is not flowing in enough.
Without strong incoming liquidity the majority of these cryptos are doomed to fail the analyst noted.

Liquidity Drought Hits Hard 💀

Investors really need to pick projects carefully now since only a handful will survive this bear stretch and stay relevant. Those comments line up with what CryptoQuant founder Ki Young Ju said back in early December 2024 when altcoin vibes felt strong. Back then he pointed out the altseason would not unfold as expected without real new money entering the space and only select assets managed big moves while liquidity shortages limited everything else. That scarcity has grown even tighter this season pushing most altcoins into deeper underperformance.

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Things aren’t exactly stacking up in Bitcoin’s favor lately, but surprisingly the asset is holding its ground better than many anticipated for now 🖤.

Capitulation Far From Over 💀

Just consider the fresh strikes between Iran and the US that restarted tensions, MicroStrategy dumping over 3500 BTC, signs of serious miner exhaustion, AI pulling funds away from crypto, those Bitcoin ETFs losing over 8 billion dollars across two months, plus the Fed holding rates firm and yet BTC stays above 60000.
While the coin has shrugged off much of that external weight so far a fresh technical setback just hit. Analyst Ted Pillows flagged that the real bottom still lies ahead based on past cycles and sketched targets dipping below 50000 or even 45000.
Ali Martinez highlighted the rejection at 64000 noting it might spark a sharper short term slide under 60000 or down to a fresh multi year low at 56550.

Bitcoin $BTC is getting rejected at the top of its channel.

This could trigger a pullback toward $59,700, with $56,550 as the next downside target. pic.twitter.com/GvI9fMFQbD

— Ali Charts (@alicharts) July 8, 2026

Asian Demand Flashing Recovery Signals 🌙

Another voice on X known as CW pointed to the Kimchi Premium showing demand returning in Korea after lingering at negative 2 percent for the longest stretch in five years.
The reading has now climbed to negative 0.835 percent hinting that the bearish phase could be nearing its end especially if it crosses into positive territory soon.

The $BTC Kimchi Premium Strategy indicator is showing a positive trend.

The Kimchi Premium has also decreased from -2% to -0.835%.

The longest period of negative Kimchi Premium in the last 5 years is being maintained. However, the end of the bearish trend is approaching. pic.twitter.com/Bivsx4wRqS

— CW (@CW8900) July 8, 2026

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Zcash shot past the $500 threshold as whispers from founder Zooko spread about tachyon’s formal verification finally proving the shielded pools are free of sneaky counterfeiting tricks. The project sits right on the edge of delivering that math proof which would finally kill the old privacy versus supply check dilemma 🖤

The Orchard Flaw That Sparked Ironwood 🌙

Tachyon dropped fresh updates on verifying the upcoming ironwood shielded pool after a recent vulnerability popped up in orchard. A shielded labs researcher named taylor hornby spotted a counterfeiting issue in orchard during may and though it got patched in a network upgrade everyone agrees it never saw real use. The hidden nature of the bug pushed the community toward building ironwood from a patched orchard base complete with a turnstile that lets users shift funds over while proving nothing shady happened before. Old orchard payments will shut down after the move locking in an upper bound on total zec supply.

Multi Layer Security Push With AI And Proofs 🕷️

Fixing the flaw alone felt insufficient so the team launched a broad verification campaign mixing deep audits frontier ai analysis and formal math checks to lock down ironwood.

ZEC is facing a key resistance around $480 where a descending trendline and horizontal meet creating compound resistance. The rejection actually strengthened the setup by pulling price back to retest the trendline

— Ardi (@ArdiNSC) May 2025

Zec climbed from around $410 up to briefly kiss $500 before easing back near $480 which still leaves it almost 20% higher for the week. Trader ardi notes that if price breaks and holds above $480 it could regain steam and push past $500 again.

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On-chain data confirms June brought real pain for bitcoin at 57800 but spot demand and institutional flows took a hit too. Speculation swirls around a possible cyclical bottom though nothing is locked in yet.

Bitcoin’s Darkest June in Years 🖤

Btc dipped to a fresh cycle low of 57800 marking the worst June since 2022 and the second weakest since 2013. Analysts note the drop got worse from fading STRC demand plus six straight weeks of ETF outflows the longest streak since launch. The slide from cycle highs hit 54.15 percent and btc closed the month down 20.48 percent.
Analysts at Bitfinex shared in their latest Alpha that historical patterns point to a stronger July but seasonality alone won’t hold up without fresh spot and institutional buying.

July Looking Up or Just a Tease 🌑

Past bear markets show June and November as the weakest periods so July often turns firmer with double digit gains in 2018 and 2022. Still experts say it’s too soon to call cycle lows secure. Demand engines need real repair first to set up any lasting recovery.
The ETF side saw a brief $223.5 million inflow on July 2 but one day won’t erase six weeks of outflows. With btc already back above 60000 on July 1 the move feels like a failed breakdown where spot interest started returning at the lows. Seasonality helps yet only sustained buying will push things forward. 💀

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An anon wallet dropped $4.4 million on BONK tokens across two days before weaponizing the bag to force a governance vote and siphon $21.2 million straight from the BonkDAO treasury.
The move netted a cool $16.8 million profit and left the crypto scene split between screams of theft and cheers for a DAO simply doing what it was coded to do.

The vote that drained the vault 🦇

Lookonchain tracked the setup beginning June 30 when the attacker dropped a proposal to shift 4.426 trillion BONK worth roughly $21.2 million into their own wallet. Passing required backing from at least 1% of the total BONK supply sitting just under 88 trillion tokens.
From July 4 onward they scooped 882.285 billion BONK across Bybit and Binance enough to hit the quorum then cast every single token as a yes vote clearing the path for the massive transfer.
Chainalysis later confirmed the buys happened July 4 to 5 mixing exchange purchases with some DeFi borrows.

Around nine hours after securing the $21 million haul the attacker routed $188,000 to OKX and parked the rest inside a freshly minted DAO called BONK 2.0 under their full control plus two linked wallets.
BonkDAO later posted on X confirming the hit and listing the exchange wallets used while coordinating with authorities exchanges and the Solana Foundation to contain the fallout.

Governance win or straight up heist 🔪

The heist adds to a brutal year already seeing nearly $1 billion drained from DeFi. Still not everyone sees a crime Ogle from World Liberty Financial called it a legit token purchase and clean vote execution.
David Schwartz countered that treating a shared treasury like a personal piggy bank could amount to fraud especially without any legal wrapper in place.

BONK dipped around 7.4% in the following day landing near $0.00000438 though it stayed up a bit for the week.

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Ripple’s Chief Legal Officer Stuart Alderoty slammed Politico for twisting a fresh poll that actually shows 67 million American adults already hold digital assets.

Polls Spill Different Secrets 💀

He noted this 27 percent slice equals one of the nation’s largest voter blocks instead of some tiny fringe. Alderoty dropped a July 6 piece on RealClearMarkets arguing the same percentage matches the National Cryptocurrency Association’s 2026 report of one in four adults owning crypto. That lines up with roughly 67 million people. “The framing of ‘only 27 percent’ brushes off a quarter of American adults like they’re nothing,” he wrote. “Sixty-seven million souls aren’t begging Washington for scraps. They’re demanding their government handle its own business.” 12 million new holders joined just this past year, matching the combined size of New York City and Los Angeles and shifting the ratio from one in five to one in four. The study also revealed 42 percent of those fresh holders are women, lifting overall female ownership 10 percent year over year.

CLARITY Act Whispers Drag On 🦇

This clash arrives while the CLARITY Act missed the White House July 4 signing window, leaving lawmakers scrambling before the August recess. The Senate Banking Committee cleared the bill in a 15-9 vote on May 14, yet it still needs a full Senate pass plus reconciliation with the Senate Agricultural Committee version before heading to the House and President Donald Trump. Politico found 45 percent of Americans view digital currencies as too risky while only 25 percent see the upside. Just 9 percent would trust a crypto platform over banks, though Alderoty countered that risk awareness hardly equals outright rejection. He added 69 percent of holders trust crypto, outpacing the 65 percent who trust traditional banking.

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Ethereum keeps its slow crawl away from the $1,500 pits it touched not long ago but now the asset tests a serious resistance zone blocking its recovery path. 🖤 Breaking past this spot could unlock a surge toward $2,000 or higher yet right now that goal feels distant.

Will Ethereum Shatter The $1,800 Wall? 🌑

With ETH hovering near $1,800 analyst Ali Martinez flagged it as the crucial bullish key that must break clean. In a post on X he noted how the 0.8 MVRV Pricing Band lines up there as resistance. He called for a daily close above this level then a hold as support to strengthen the bullish case and open a path toward Ethereum’s Realized Price at $2,245. The altcoin has not crossed $2,000 in a month and its last visit to the Realized Price happened back in mid-May.
Martinez doubled down on the $1,800 importance since the TD Sequential resistance trendline also sits right there. “A break above both $1,796 and $1,816 could trigger a bullish breakout. From a technical perspective such a move would also increase the probability that ETH breaks through the top of the channel at $1,844 and begins marching toward the $2,245 Realized Price.”
Fellow analyst Ted Pillows echoed the view after ETH recently tested the $1,820-$1,850 resistance only to get pushed back. The bright side is it still trades above $1,750 and Pillows expects a push to $2,000 once that zone gets reclaimed. Check the call.

The Odd Business Cycle Whisper 🕷️

Michaël van de Poppe highlighted an unexpected correlation hinting at a stronger Ethereum rally ahead. He pointed out how the business cycle often shows through the copper/gold chart a pattern clear in the 2017 and 2021 cycles yet absent in 2024 so far. He sees that precious metals chart as a strong market momentum signal after its recent massive upward break and flip of a 4-year downtrend into an uptrend. ✨
“Usually ETH follows through although with some lag as there needs to be more confidence in the markets. A matter of time until the crypto markets are finally picking up momentum.”

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Strategy just dumped 3588 BTC for roughly $216 million 🖤 The price dipped under $61500 for a moment before snapping back fast.

Why Dumping BTC Could Strengthen The Setup 🌑

Grayscale research head Zach Pandl sees this as a smart move that might give Bitcoin a sturdier floor after the initial shock in their update. Strategy still sits with about $52 billion in BTC against only $7 billion in debt and keeps annual dividends under $2 billion so the balance feels solid overall. Late May saw dollar reserves fall to $870 million which covered dividends for around six months and sparked some worry about the next steps.

Bitcoin Holds Firm Despite The Noise 🕯️

By late June the firm rolled out a fresh framework to issue shares or sell BTC when needed to protect reserves. July 6 confirmed another sale yet reserves climbed to $2.55 billion for 17 months of coverage and STRC price action shows investors are warming up to these calls. Market chatter stayed heavy on the sale fears but Bitcoin already defended the $60000 zone in a quick relief bounce after that overly bearish close to June.

Unexpected relief rally after $BTC defended $60K once again

— Santiment (@SantimentData) July 2024

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ZachXBT pointed out how copycats launched several meme coins using his name and image on different chains over the past week to ride the recent buzz. He made it clear he had zero part in any of those tokens and stuck to his rule of never backing or creating meme coins himself.

Impostor Tokens Rising 🕸️

In his latest update ZachXBT shared that every token hitting his donation wallet got sold off right away with all money going to good causes instead of staying personal. Around 41000 USDT went through The Giving Block for Venezuela earthquake help like 25000 USDT to GiveDirectly on July 6 and 5000 USDT to Direct Relief the same day plus 153 SOL worth about 11000 to Direct Relief on June 28. Check the details here 🖤 He built his rep by calling out scams in DeFi and beyond while always staying away from meme plays. Back in April he noted he never hyped deployed or shared any meme coin addresses.

Latest Probes and Exposés ⚰️

ZachXBT took aim at MemeCore lately questioning its huge valuation and why over 90 percent of the supply sat with insiders while exchanges still listed it despite warnings. He raised similar flags on SIREN and LAB tokens earlier this year too. 💀 Recent X posts from community voices like Ovie Faruq praised how ZachXBT protects retail from bad actors in the space. ✨ View the full tweet embed here See this one too

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